Many people looking to rent believe that it is easier to find a rental during the winter months. The thought is that fewer people are going to be moving around the end of the year, which means that any apartments that have been left from the summer and fall will not be picked up around the holidays.. While this seems logical, is there actually any truth to it? Actually, according to a study done by RentHop.com, there most certainly is.
The study followed the average rent of a one bedroom apartment in ten different large areas. The results showed that from November through to April, there was a significant decrease in the amount of rent paid in every single city they checked. Even New York City, which is widely regarded as the most rented out city in the country had a difference of around $140 a month. When you take into consideration the fact that rent in New York City is some of the highest in the country no matter when or where in the city you look, this is an incredible piece of information. Each of the other cities followed suit to varying degrees. There were few exceptions in this study, however Charlotte, NC was one of them.
Interestingly enough, the rentals in your area don't follow this pattern. While the rent was calculated at the highest in August, the second highest month was January. November was actually the cheapest month on average to move to Charlotte, followed by December. There is actually a two and a half percent increase in rental prices between December and January. Unfortunately we don't really have any reason why this occurred in North Carolina.
As property owners in this state, you may have noticed the trend yourself. This may be due to the milder weather seen in your area as opposed to other locations, but even Miami, FL and Atlanta, GA followed this pattern. Knowing this, however, you can adjust your rent appropriately. You may also just want to wait a month or so for someone to come to check out your apartment. Ask around and see if anyone else has noticed this and what they do about it. Sometimes things are just different in some places and there's nothing we can do about it.